These last provisions are hardly acceptable to China, where two-thirds of exports originate from state-owned enterprises. The terms and conditions of the TPP are quite comprehensive, going further to promote the free flow of goods and services than any other regional trade agreement. Concerned about their vulnerability to global financial shocks, East and Southeast Asian leaders met in Chiang Mai, Thailand, in to institutionalize a self-help mechanism based on bilateral currency swaps. Thanks for clarifying some of the misconceptions of the RCEP that have been out there. Gender and Development 7. The second misconception is that RCEP is a low-standard agreement that will not shape commerce to any serious extent within the grouping, let alone beyond it. We reiterated that East Asian integration is an open, transparent, inclusive, and forward-looking process for mutual benefits and support internationally shared values to achieve peace, stability, democracy and prosperity in the region.

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